Lender Processing Services to prepay term loans B with note proceeds

By Angela McDaniels

Tacoma, Wash., Sept. 27 - Lender Processing Services, Inc. plans to prepay in full the outstanding term loans B under its senior credit facilities, according to a company news release.

The company will fund the prepayment with proceeds from a planned $600 million offering of senior notes due 2023.

Proceeds and existing cash will also be used to purchase the company's 8 1/8% senior notes due 2016 in a tender offer and redeem any 8 1/8% notes that remain outstanding after the tender offer. The outstanding amount of 8 1/8% notes is currently $362 million.

Wells Fargo Securities LLC is the left bookrunner for the new notes. J.P. Morgan Securities LLC, Bank of America Merrill Lynch, SunTrust Robinson Humphrey, US Bancorp and Goldman Sachs & Co. are the joint bookrunners.

Lender Processing Services is a Jacksonville, Fla.-based provider of integrated technology, services and loan performance data and analytics to the mortgage, consumer lending, capital markets and real estate industries.

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